Pune, India -- (SBWIRE) -- 02/24/2018 -- The Global Diabetes Pen Market is highly fragmented and is based on new product launches and clinical results of products. Hence the major players have used various strategies such as new product launches, clinical trials, market initiatives, high expense on research and development, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of diabetes pen market for global, Europe, North America, Asia Pacific and South America.
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The Global Diabetes Pen Market accounted to USD 5.9 billion in 2016 growing at a CAGR of 7.5% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
Global Diabetes Pen Market By Indication (Type I Diabetes, Type II Diabetes), By Product Type (Insulin Pens, Insulin Pen Needles), By Type (Disposable, Reusable), By Therapy (Insulin, Glucagon-Like Peptide-1, Growth Hormones), By End Users (Hospitals, Clinics, Home Care Settings), By Geography – Industry Trends and Forecast to 2024
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TOP Competitors of Market:
- AstraZeneca, BD,
- Eli Lilly and Company,
- Jiangsu Delfu medical device Co.,Ltd.,
- Owen Mumford Ltd.,
- Smiths Group plc.,
- P&B Pharmaceuticals Ltd.,
- NIPRO Medical Corporation,
- Novo Nordisk A/S,
- MANNKIND CORPORATION,
- Bristol-Myers Squibb Company,
- Hoffmann-La Roche Ltd.,
- Ypsomed and HTL-STREFA S.A.
- among others.
Major Market Drivers:
- Growth in prevalence of diabetes cases in varied age group.
- Growth in product launches
- Promising regulations.
- Growth in awareness amongst people.
- Increased R&D investments.
- Safety issues related to reusable injection pen restrain the market.
An insulin pen is a device used to permeate insulin to diabetic patients. Patients suffering from type 1 diabetes choose insulin pen for the treatments. Insulin pen offers easier infusion of insulin into the body. It offers more accurate dosages and less pain compared to vials and syringes and therefore chosen by clinicians and patients. Low cost of insulin pen increases its affordability among people. Insulin pen comprises of two categories including reusable and disposable insulin pens.
The global diabetes pen market is segmented by indication into type I diabetes and type II diabetes.
On the basis of product type:- Insulin pens and insulin pen needles.
On the basis of types:- Disposable and reusable.
On the basis of therapies:- Insulin, glucagon-like peptide-1 and growth hormones.
By end users:- Hospitals, clinics and home care settings.
On the basis of geography:-
- North America & South America,
- Asia-Pacific, and Middle East & Africa.
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